Page 30 - Commercial - Underwriting Mandates & Guidelines Binder

200,1M – 250M
250,1M – upwards
Subsidence and Landslip (Full Cover)
0.0670% 0.0640%
Referral
0.0550% 0.0520%
Referral
0.0620% 0.0550% 0.0600% 0.0520%
Referral Referral
0.0610% 0.0580%
Referral
0.0670% 0.0640%
Referral
0.0670% 0.0640%
Referral
0.0520% 0.0500%
Referral
0.0520% 0.0500%
Referral
0.0550% 0.0520%
Referral
0.0520% 0.0500%
Referral
0.0550% 0.0520%
Referral
0.0610% 0.0580%
Referral
0.0610% 0.0580%
Referral
0.0670% 0.0640%
Referral
0.0610% 0.0580%
Referral
Sectional Title and Property Risk
SUM INSURED
Calculate S/I – Excl. Vat buildings plus rent and escalation for rating purposes
Additional cover options
6.2.2 Geysers
Rates per geyser
Excess – replacement
Excess – repair
6.2.3 Discounts Allowed Discount
6.2.4 Liability
Public Liability – R20 000 000 Public Liability – R30 000 000 Public Liability – R40 000 000 Public Liability – R50 000 000 Employers Liability – R10 000 000
R500 per geyser per annum R1 500
R250
Trustees Liability – maximum
6.2.5 All Risks
5 trustees – R5 000 000
Maximum 10% with prior approval
R250 with a flat excess of R2 500 R350 with a flat excess of R3 500 R450 with a flat excess of R4 500 R550 with a flat excess of R5 500 R500 with a flat excess of R1 000 R325 with a flat excess of R2 500
All Risks – Insured’s property only Exclusions
6.2.6 Electronic Equipment
Electronic Equipment – Insured’s property only Surge arrestors required
Power surge included
6.2.7 Motor
The property of the Insured only Motor up to R50 000
Motor R50 001 to R150 000 Motor R150 001 to 250 000 Motor R250 001 to R500 000 Motor exceeding R500 001
Minimum section premium
Annual Monthly
3% with an excess of 10% of claim minimum R350 Property of unit owners
Cellular phones or similar equipment
Laptops and computer equipment
Electronic equipment of any nature Item value exceeding R25 000
4.5% with an excess of 10% of claim minimum R1 500 Additional R2 500 if not complied with
Excess of 10% of claim minimum R2 500
Minimum premium for this section – R4 000
10.00% rate with excess 10% of claim minimum R2 500 8.00% rate with excess 10% of claim minimum R3 000 6.50% rate with excess 10% of claim minimum R3 500 4.50% rate with excess 10% of claim minimum R4 000 3.75% rate with excess 10% of claim minimum R4 500
R5 000 R420
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022